Penny stocks wane

OXLEY HOLDINGS (38 cents) – Poised to break below top

-         Price has broken  down support at 37.5 cents indicating a target of 30 cents

-         Quarterly momentum appears poised for a breakdown

-         Resistance is at 40 cents

INTERRA RESOUCES (38.5 cents) – Building a top

-         Quarterly momentum has broken below support

-         In the immediate term, prices could bounce off 40 cents

-         Breakdown level is at 38 cents

-         A breakdown would indicate a target of 24 cents

YOMA STRATEGIC HOLDINGS (51 cents) – Could strengthen

-         Prices are in top formation

-         Breakdown level is at 50 cents

-         Breakdown would indicate a initial target of 40 cents and eventual target of 27 cents

-         Rebounds are capped at 54 cents

JEL CORP (17 cents) – Set to ease further

-         Prices may have peaked at 16 cents

-         Rebound on 2 May occurred on relatively lower volume a sign of change

-         Breakdown level is at 6 cents

TT INTERNATIONAL (14.1 cents) – Volatility signals a top

-         Prices have turned extremely volatile in the past two months

-         Resistance has been established at 16.5 cents

-         Support/breakdown is at 12 cents

IPCO INTERNATIONAL (2.1 cents) – On borrowed time

-         Quarterly momentum is resting on support

-         Breakdown level is at 1.8 cents

-         Punters should tread with caution

(Source:  TheEdgeSingapore May 7 2012)